Recession spelt out home truths

It is a source of wonder in some corners of the retail world that Focus DIY has managed to limp into 2011 — nearly four years after Cerberus bought it for £1.

The company’s previous chief executive, Steve Johnson, set off on an ill-fated attempt to turnaround Woolworths. But while Woolies collapsed during the darkest days of the financial crisis, Bill Grimsey, Mr Johnson’s successor, has managed to keep Focus afloat.

Mr Grimsey had already scored a success with his turnaround of Wickes, the third-largest DIY retailer behind B&Q and Homebase. Focus was formed in the heyday of DIY in the 1980s and was built up over the years with a string of acquisitions, including Do-It-All and Great Mills.